Five Bullet Friday: Week 02
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Cryptoconditions: Anatomy of an Oracle
In 2018, we added cryptoconditions to our codebase, and lots of testing has taken place leading to a new suite of dApps. Here’s a great article posted by smk762 talking about cryptoconditions and one use case involving GPS and a dog! Full article here: http://rant.cryptocartography.io/anatomy-of-an-oracle/
“I’ve been busy working on the Dragonhound dApp (for asset tracking) in the KMD Labs, a community Skunkworks project. Dragonhound offers a cartographic interface using LeafletJS to display the GPS location data history of a Particle.io Asset Tracker, which is stored in a tactical pouch attached to a OneTigris K-9 Harness, and worn by a wandering hound with a lust for freedom who I’ve bailed out of lock up more than once.
Tying all this together is a Komodo assetchain (currently in testnet) which uses an Oracle Crypto-conditions smart contract to store GPS data emitted from the Particle.io device, and retrieve it for display with python RPC functions via the Django framework. As this is new tech, simple to understand documentation is in short supply. Below I’ll walk through the steps for creating an oracle from Ubuntu 18.04 command line, and then storing and receiving data on it.”.
Anatomy of an Oracle
In 2018, Komodo Platform added cryptoconditions to thier codebase, and lots of testing has taken place leading to a new…
Funds In Z-Addresses Must Be Moved By Feb. 15, 2019
On October 27, 2018, zCash implemented the Sapling upgrade to its code base. Since zCash is an open-source project, Komodo was able to activate the Sapling upgrade, as well. As a result of this upgrade, from the Sprout to Sapling code for private Z-transaction support, the old Sprout Z-addresses will be deactivated in the Komodo code base on February 15, 2019. Read more about the update here: https://komodoplatform.com/komodos-sapling-upgrade-success/ .
- Only approx 0.1% of addresses are Z addresses. Most users do not need to do anything.
- If your funds are on Ledger or on Agama Lite (i.e. you use a seed password and not a wallet.dat) then you don’t have a Z address.
- Even if you have upgraded to the latest version of Agama and your KMD is in a Sapling Z-address, you must still move these funds to a transparent t-address by February 15, 2019.
- If you have any questions you can join the support channel in Discord here.
For instructions on how to safely move your KMD from a Z-address to a transparent R-address (the address should begin with the letter “R”), please see this guide created by Komodo’s Support Team: https://support.komodoplatform.com/support/solutions/articles/29000026955-perform-z-transactions-using-agama.
Latest Nano S application is now available on Ledger Live.
Ledger suspended its Komodo service on December 14th, 2018 in order to evaluate the feasibility of technical upgrades for the Komodo hard fork on December 15th. KMD users are currently using the Magnum Wallet with their Ledger device if they need to manage their KMD.
- Here is the post by Ledger: https://support.ledger.com/hc/en-us/articles/360013635173-Upcoming-Komodo-service-disruption.
- Here is a guide on how to claim your rewards on Ledger using the Magnum Wallet: https://blog.komodoplatform.com/how-to-claim-kmd-rewards-with-ledger-on-magnum-wallet-6fb4e643ea55.
The 51% attack on Ethereum Classic illustrated what a lot of bad guys know: many small cryptocurrencies are simply not safe enough.
Tim Copeland from Decrypt Media reports on the recent 51% attacks and talks about how to fix the problem. This article points to Komodo’s delayed Proof of Work as a solution. Read more here: https://decryptmedia.com/4408/cryptocurrencies-protect-51-attacks.
Next time you see an article or post about a 51% attack, here’s what to do!
Coinbase recently blogged about ‘Deep Chain Reorganization Detected on Ethereum Classic (ETC)’ as a result of a 51% attack. In the same newscycle, Bitstamp tweeted “Hacking Bitcoin with a 51% attack would require spending around $5.5M per day on electricity (if the cost of electricity is $0.05 per kWh). This is just the energy cost, the necessary equipment would cost billions.” which is exactly the point of delayed Proof of Work notarizing to Bitcoin because it makes it impractical to attack! We’d like you to help us educate people on how to counter these attacks and prevent them. Next time you’re in a conversation or reading the comments please link them to these articles which explains the solution…
- The Anatomy Of A 51% Attack And How You Can Prevent One
- Komodo’s delayed Proof of Work (dPoW) Security, Explained.